Lender Approval and Removal

Since pools on the Huma protocol are permissioned, all lenders must get approval to join a pool. Here are the steps involved:

1. Certify that you are a qualified/accredited investor.

2. Pass the Know Your Customer (KYC)/Know Your Business (KYB) checks. This step is handled by Persona.

3. View and accept legal documents, such as Private Placement Memorandum and Bond Purchase Agreement.

4. The system will automatically add you as an approved lender after all the previous steps are done.

Pool Operators have the discretion to remove a lender. If removed, the lender can no longer supply additional liquidity to the pool. However, the lender’s existing funds will stay in the pool, continuing to generate yield, and can be requested to redeem at any time.

For a detailed walkthrough of the process, refer to the Step-by-step Guides section.